Tokyo: The president of the Asian Development Bank, Takehiko Nakao, plans to step down early next year, the regional lender said on Tuesday. Japan has usually headed the ADB as a top donor. Finance Minister Taro Aso said Tokyo would soon nominate a “high-calibre candidate” as Nakao’s successor. Aso said the government planned to recommend Masatsugu Asakawa, a former vice finance minister, as Tokyo’s choice as “best qualified” for the job. Nakao, 63, will leave on January 16, 2020. AP

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